Letter of Compliance | SMSF ATO
The SMSF Notice of Compliance, also sometimes called a letter of compliance, is a document issued by the ATO to an SMSF. According to the ATO “an SMSF that holds a notice of compliance that is till in effect is eligible for concessional tax treatment for income tax purposes in relation to a year of income.”
The ATO only issues a letter of compliance to an SMSF after the first SMSF Annual Return is lodged. The notice is issued once, not in each year of operation of the SMSF.
Therefore, it is important for you to not lose this document. Your SMSF’s complying status can also be confirmed from Super Fund Lookup (superfundlookup.gov.au). Until the SMSF receives the letter of compliance, it will be shown on the Super Fund Lookup as “Registered – status not determined’. Under this status the fund is still eligible to receive contributions and rollovers. Once the SMSF’s first Annual Return is lodged, the status will be adjusted to “Complying”.
Letter of Compliance may also be requested by other super funds when processing rollovers. Newly set up SMSFs will not yet have this document to provide. In these situations, you can direct the other fund to find your SMSF on the Super Fund Lookup
Please note SuperHelp do not provide compliance letters – these are issued by the ATO.
If you have an existing SMSF and would like to transfer your administration to SuperHelp, please contact us on 1300 736 453
Article Disclaimer: This information should not be considered personal financial advice as it is intended to provide general advice only. The article has been prepared by Superhelp Australia Pty Ltd without taking into account your personal objectives, financial situations or needs.
The information contained in the article may not be appropriate to your individual needs therefore you should seek personal financial advice before making any financial or investment decisions.
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Book your free consultation with me to find out if SMSF is right for you. If you have any other questions, we are happy to help!
Why is SMSF Set up free at SuperHelp?
SuperHelp have been servicing the SMSF market for over 15 years. We pride ourselves in being able to provide an affordable SMSF service without compromising on quality. One of these services are to provide new members with setting up their SMSF for free when they use our award winning service.
Do I need to use a specific bank, broker or provider?
Unlike other SMSF administrators and accountants we do not restrict you to what bank, broker or service provider you use. We are independent and do not take any commissions from other parties so that our clients can invest their super where they please.
How long has SuperHelp been around for?
SuperHelp have been around since 2002 - so over 15 years! While new SMSF administrators have come and gone, we are still around!
I'm not sure if I want to start an SMSF, what should I do?
Starting an SMSF should not be taken lightly, we encourage you to book a free SMSF consultation with one of our expert staff to find out if SMSF is right for you. You can book a suitable time here or feel free to give us a call on 1300 736 453 during business hours.
How much is your ongoing annual administration fees?
Our first year introductory offer for new SMSF or transferred SMSF are $899 + GST regardless of asset types. Subsequent years are dependent on the number of assets and asset types you have - please use our calculator to estimate your fee. You will find that our fees are very reasonable to the quality provided within the SMSF market.
Do you have an SMSF newsletter that I can sign up to?
Yes! We send out a quarterly SMSF newsletter to all of our clients and anyone interested in SMSF. You can sign up here :
Do you offer any other SMSF services?
Yes we do! You can see a full list of SMSF services on our services page.
SuperHelp is located in Macquarie Park, NSW however we work with clients all around Australia.